An equipment rental agreement is an agreement that governs the temporary use of equipment between owner and renter. The equipment rental agreement, otherwise known as a rental contract, makes the rental arrangement legally binding. The agreement is usually a written document that will define all terms that apply throughout the entire lease. Most commonly, an equipment rental agreement is used by businesses that need quick, short term access to equipment, but it can also be used by individuals for other purposes. The kinds of equipment accessible by means of an equipment rental agreement include furniture, computers, specialized vehicles, and even software. Standard equipment rental agreements are structured to include names of parties, the type of property, duration of lease, rent payment, and the terms of use. Other desirable terms of use that should be considered for the agreement are upgrades when needed and a lease to purchase option.